In August, there was a substantial reduction in the total number of shares of Pinnacle Financial Partners, Inc. (NASDAQ: PNFP-Get Rating) that were sold short. As of August 31, there were 1,190,000 shares on loan, which is a decline of 19.6% from the previous day’s total of 1,480,000 shares on loan. The current days-to-cover ratio is 2.9, based on an average trading volume of 405,300 shares. This number was calculated using the data. Short sales currently account for 1.6% of the company’s total share capital. On top of that, Director Gregory L. Burns sold 1,500 shares of the company’s stock on Monday, July 25. This is the first time information about Pinnacle Financial Partners has been reported in the press.
The price of each share was determined to be $77.50, which resulted in a total sale amount of $116,250.00 being collected. The shares were sold. As a result of the transaction, the director now owns 24,518 shares of the company’s stock. The total value of these shares is around $1,900,145. You can find more information regarding the transaction in the lawsuit file submitted by the Securities and Exchange Commission, which can be viewed at this URL. The file contains the details regarding the transaction. 2.01 company insiders own percent of the total number of shares now issued in the corporation. Recently, several hedge funds have taken one of two actions about their holdings of PNFP: either they have grown their PNFP holdings or decreased the amount of money they have invested in the company. During the first three months of 2018, Quent Capital LLC boosted its total investment in Pinnacle Financial Partners to a level that was 131.6% higher than before.
Quent Capital LLC currently has 366 shares in the financial services company, worth $34,000, after purchasing an additional 208 shares during the most recent quarter. These shares were acquired through the purchase of extra options. A factor of 299.0% was added to Front Row Advisors LLC’s holdings in Pinnacle Financial Partners during the first three months of 2018. As a result of the purchase of an additional 287 shares of stock during the most recent fiscal quarter, Front Row Advisors LLC currently possesses a total of 383 shares of the stock that the provider of financial services holds. Based on today’s market, the value of one share of stock in Front Row Advisors LLC is currently $35,000. CoreCap Advisors LLC spent over $37,000 during the second quarter to purchase a new interest in Pinnacle Financial Partners.
This transaction took place during the second quarter. Pinebridge Investments, L.P. raised its stakes in Pinnacle Financial Partners by 470.0% during the year’s second quarter. As a result of the acquisition of 470 more shares during the most recent quarter, Pinebridge Investments L.P. now owns 570 shares in the financial services company. These 570 shares have a value of $41,000, and Pinebridge Investments L.P. Last. Still not least, during the first three months of the year, Exchange Traded Concepts LLC expanded its holdings in Pinnacle Financial Partners by increasing its share count through the purchase of more shares for close to $45,000. The company’s stock is owned collectively by several institutions to 80.63 percent. PNFP shares began trading on Thursday at an opening price of $82.23 per share.
At 0.34, the debt-to-equity ratio, the quick ratio, and the current ratio are all the same; nevertheless, the current ratio stands at 0.85. The company’s market capitalization is currently valued at $6.28 billion, and its PE ratio is at 11.80, while its beta value sits at 1.17. The company’s moving averages over the past fifty days are presently sitting at $79.64, and its moving averages over the past two hundred days are currently sitting at $81.93. During the last 52 weeks, the price of a share of Pinnacle Financial Partners has fluctuated between a low of $67.86 and a high of $111.31.
Pinnacle Financial Partners (NASDAQ: PNFP-Get Rating) released the results of its most recent quarterly financial report to the public on Tuesday, July 19. The company that offers financial services reported quarterly earnings of $1.86 per share, which is $0.18 higher than the forecast that was made by the market, which was for $1.68 per share.
The actual amount of money brought in throughout the period was $390.08 million, which is much greater than the consensus prediction of $367.48 million made before the beginning of the period. Pinnacle Financial Partners had a return on equity of 10.76% and a net margin of 36.17% for the company overall. Compared to the previous year’s period, the company’s sales for the most recent quarter saw a 17.7% growth. In the same period the year before, the company had $1.68 per share earnings. Research experts have forecasted that Pinnacle Financial Partners would make profits of 7.3 cents per share for the current fiscal year. These projections are based on the company’s historical performance. In addition, the corporation announced the distribution of a quarterly dividend, which took place on the 26th of this month. Shareholders who were “recorded” as part of the company as of August 5 received a dividend payment of $0.22.
This works out to a yield of 1.07% and an annual dividend of $0.88 for the investor. This dividend’s date of ex-dividend was on August 4, a Thursday and the day after the previous week’s pay period ended. Pinnacle Financial Partners’s dividend payout ratio is now 12.63 percent.
Recent analyst reports have focused the majority of their attention on PNFP. On July 27, UBS Group published a research note on Pinnacle Financial Partners stating that it was decreasing its “neutral” rating and its price objective, which had previously been set at $94.00, to $85.00. The research note also stated that it decreased its price target from $94.00 to $85.00. In a research note issued on July 11, Jefferies Financial Group lowered its price objective for Pinnacle Financial Partners from $85.00 to $60.00 and downgraded the firm from “hold” to “underperform.” Pinnacle Financial Partners, Inc. was given an “overweight” rating by JPMorgan Chase & Co. in a research report published on Friday, July 1. The target price that the firm has set for Pinnacle Financial Partners shares went from $123.00 to $95.00.
In a research note published on Wednesday, June 15, Truist Financial lowered its “buy” rating on Pinnacle Financial Partners shares and decreased its target price on the company’s stock from $100.00 to $92.00 in a research note. In addition, the target price for the company’s stock was reduced from $92.00 to $80.00. In a research report published on July 22 and available to the public, Stephens increased their price objective for Pinnacle Financial Partners shares. The new price target has been set at $93.00. Analysts have made six recommendations to buy the stock; two to hold the shares and one to sell the shares. In total, there has been one suggestion to sell the shares. The current consensus rating for Pinnacle Financial Partners is “Moderate Buy,” and the price target that the majority of analysts have agreed on is $92.29. This information was obtained from MarketBeat.com.
Pinnacle Financial Partners, Inc. and it’s subsidiary companies make up the bank holding company for Pinnacle Bank, which has locations across the United States and provides a full range of banking products and services. Pinnacle Bank is owned by Pinnacle Financial Partners, Inc. Customers will be able to work with the bank to open various accounts, such as savings, checking, money market, interest-bearing, non-interest-bearing checking, and certificates of deposit.